Lbp Am Sa Buys 5,791 Shares of Salesforce Inc. (NYSE:CRM)

LBP AM SA increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 236,078 shares of the CRM provider's stock after acquiring an additional 5,791 shares during the period. Salesforce comprises about 1.0% of LBP AM SA's investment portfolio, making the stock its 21st biggest position. LBP AM SA's holdings in Salesforce were worth $63,354,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Bernard Wealth Management Corp. bought a new position in Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $27,000. Abound Financial LLC bought a new stake in shares of Salesforce during the first quarter worth approximately $31,000. Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $35,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $45,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CRM. Piper Sandler upped their target price on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Cantor Fitzgerald downgraded shares of Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Macquarie reiterated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Finally, Royal Bank Of Canada cut shares of Salesforce from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $420.00 to $275.00 in a report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Insider Activity

In other news, insider Parker Harris sold 1,142 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $299,603.70. Following the sale, the insider directly owned 136,824 shares of the company's stock, valued at approximately $35,895,776.40. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total transaction of $611,302.50. Following the completion of the sale, the chief executive officer directly owned 11,862,457 shares in the company, valued at approximately $3,222,910,942.33. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,284 shares of company stock worth $9,444,537. Company insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Salesforce stock traded down $5.74 during midday trading on Friday, hitting $258.23. The company's stock had a trading volume of 7,004,264 shares, compared to its average volume of 6,547,931. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average price of $272.09 and a two-hundred day moving average price of $288.86. The company has a market cap of $246.87 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 2.34 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 EPS. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is 25.98%.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.